Market Extra: Here’s what Germany’s next finance minister could mean for the euro

Wolfgang Schäuble, Germany’s conservative finance minister, is set to be replaced by the more moderate Olaf Scholz, a Social Democrat, in the next administration, and analysts are pondering what this could do to the euro.

Germany’s two major parties, Chancellor Angela Merkel’s center-right Christian Democrats and the center-left Social Democrats, have been in marathon coalition negotiations, which finally yielded an agreement Wednesday.

Even though the Social Democrats still get to vote on the final plan, top posts in the next administration are being filled, including replacing the head of the Finance Ministry. Olaf Scholz will take over from the Christian Democrat Schäuble, who in turn will move on to become parliamentary president.

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